Subsea 7 firms up reel-lay vessel order with Royal IHC

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Following a letter of intent in September, Royal IHC and Subsea 7 have signed a contract for the design and build of a new reel lay vessel, which will be capable of installing complex rigid flowlines including pipe-in-pipe systems. 

IHC said on Monday that, in close cooperation with Subsea 7, it had incorporated several innovative features to make this the most technologically advanced vessel to date.

Upon signing the letter of intent back in September, Subsea 7 noted that the cost, excluding capitalized interest, was expected to be below $300 million.

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